LVMH Group Invests $80 Million Into K-Pop’s YG Entertainment: Aims To Help PSY’s Agency Expand To Fashion Industry

Looks like K-Pop's leading agency is looking to expand. It's been said by The Hollywood Reporter that in a deal finalized and penned this past weekend, French fashion and luxury goods mega-company LVMH Group has agreed to sink $80 million into YG Entertainment, South Korea's K-Pop juggernaut.

YG Entertainment, of course, is best known for representing some of the biggest names in the ever so popular K-pop industry, including "Fantastic Baby" players Big Bang and "Gangnam Style," "Gentleman" and "Hangover" singer PSY.

THR claims that LVMH's private equity sector, L Capital Asia, has doled out about $60 million for "preferred shares" –– all of which can be transferred to YG common stock after one year. Where the total $80 million comes from is the additional $20 million worth of stock the fashion giant plans to purchase from YG founder, Yang Hyun-suk.

Of the deal, Yang stated, "The partnership with L Capital Asia will be a jumpstart for YG as it grows and spins out new trends."

The hope for the new deal is to spread YG Entertainment's wings into the fashion and cosmetics industries. And seeing as many K-pop stars are already rather celebrated for their fashion choices, looks like it may be an easy expansion.

Earlier this summer, YG's K-pop sensation, PSY, dropped "Hangover" alongside everyone's favorite rapper (and YouTube talk show host) Snoop Dogg. The track was released back in June as a preview to his hopeful hit, "Daddy."

So, anyone ready for some mainstream K-pop fashion? We know we're looking forward to it!

Tags

K-Pop, PSY, Big Bang, Snoop Dogg, YG Entertainment